Thiruvananthapuram, May (IANS). Rajeev Chandrasekhar highlighted the important role played by the Emergency Credit Guarantee Scheme (ECLGS) of the Government of India in supporting Kerala’s small and medium enterprises and startups during global economic uncertainties. Talking about the impact of this scheme, Rajeev Chandrasekhar cited the experience of Thiruvananthapuram-based cyber forensics startup Alibi Global.
Rajeev Chandrasekhar said that I was very happy to talk to Shyam of Thiruvananthapuram-based cyber forensic startup ‘Alibi Global’. He explained how the support provided by ECLGS through SBI provided significant relief to them, despite business being impacted by the uncertainty in the Middle East. He particularly requested me to extend my heartfelt thanks to Prime Minister Narendra Modi, who ensured that entrepreneurs got support at a time when they needed it most.
Kerala has been one of the major states to benefit from the scheme, where around 5.5 lakh MSME loan guarantees have been supported and guaranteed loans worth over Rs 8,405 crore have been provided to businesses across the state. The scheme has enabled millions of enterprises to manage working capital pressures, continue operations, protect jobs and continue investing in growth despite external economic challenges.
Rajeev Chandrasekhar said Kerala’s economy is deeply linked to the Gulf and the wider Middle East through remittances, trade, tourism and business activities, making the state particularly sensitive to developments in the region.
He said that when there is instability in the Middle East, Kerala often feels its impact immediately. ECLGS is a practical example of how the Modi government is providing timely and targeted support to ensure that entrepreneurs and small businesses are not left vulnerable to global shocks beyond their control.
He further said that this scheme reflects the broader commitment of the Modi government to provide credit to MSMEs in times of uncertainty. It also gives banks the confidence to continue lending at a time when businesses need the most support.
Rajiv Chandrashekhar said that when the government stands with entrepreneurs, banks get confidence to give loans, businesses get confidence to invest and jobs are secured. This is how resilient economies are built. Supporting our MSMEs is not just about providing loans; This is to protect livelihoods, enable growth and build confidence in the future.
–IANS
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